25 Mar 2015 07:15
25 March 2015
London Capital Group Holdings plc
("LCG" or the "Company" or "Group")
Board update
Alongside its final results statement released this morning, London Capital Group announces a change to the board of directors ("the Board").
The transformation of the Company, which started following the arrival of new senior management in the second half of 2014, is now at an advanced stage and a clear strategy for achieving sustainable growth is in place. Having reached this stage of its development the Company has decided it is appropriate to now have 2 individuals in the key roles of chairman and chief executive.
LCG today announces that Dr. Charles Poncet, non-executive director, has been appointed as non-executive chairman of the Company and that Mr. Charles-Henri Sabet, currently executive chairman, will assume the role of Group chief executive officer.
The Company also announces that Nicholas Lee, non-executive director, has been appointed as senior independent non-executive director.
The changes take place with immediate effect.
Dr. Poncet joined the Board as a non-executive director on 7 November 2014. Mr. Sabet has been executive chairman of the Company since he joined the Board on 3 September 2014 and since that time has been driving forward a strategy to transform the business.
The Board's priority remains to continue to push ahead with the execution of its strategy for sustainable growth as the Company moves to the next stage of its development, focusing on the delivery of its new products and offerings across its chosen markets together with an expansion into overseas territories.
ENDS
For further information, please contact:
Cenkos Securities plc
Nicholas Wells
Callum Davidson
020 7397 8900
Morgan Rossiter
James Rossiter
Richard Morgan Evans
0203 195 3240
Notes to Editors:
London Capital Group Holdings plc (hereafter "LCGH plc" or "LCG" or "London Capital Group" or "the Group") is a financial services company offering online trading services.
London Capital Group Limited (LCG Ltd), a wholly owned trading subsidiary of LCGH plc, is authorised and regulated by the Financial Conduct Authority. Its core activity is the provision of spread betting and CFD products on the financial markets to retail clients under the trading names Capital Spreads, Capital CFDs and LCG MT. Its other division provides online foreign exchange trading services. LCG Ltd has a European passport and is a member of the London Stock Exchange. LCG Ltd also has access to international markets through its global clearing relationships.
LCGH plc is listed on the London Stock Exchange's AIM market. LCG is included in the General Financial sector (8770) and Speciality Finance sub sector (8775) and has a RIC code of LCG.L.